UMB Bank's 2022 net income climbs 22%

Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) boosted its net income last year by roughly 22%.

The company, which operates two UMB Bank branches in Springfield, produced 2022 profits of $431.7 million, a jump from $353 million in 2021, according to a news release.

The fourth quarter added net income of $100.2 million, a nearly 28% increase from a year earlier.

"Our fourth quarter results capped off another year of record earnings, facilitated by strong balance sheet growth, stable credit metrics and contributions from our differentiated fee income sources," said Mariner Kemper, chair, president and CEO of UMB Bank, in the release. "As we enter the 110th year of business, our strong balance sheet and differentiated business mix position us well to deliver solid returns across all economic cycles."

UMB Bank's assets were $38.5 billion and deposits were $32.6 billion as of Dec. 31.

UMBF shares were trading at $89.10 as of 11:26 a.m., compared with a 52-week range of $76.97 to $106.08 per share.